Anisotropic conductive film (ACF for short) is generally composed of an insulating adhesive body and microcapsules dispersed in the insulating adhesive body. The microcapsule has a Core@Shell structure and is composed of a conductive ball as the core and an insulating layer as the shell and covered a surface of the conductive ball. When the microcapsule is subjected to extrusion in a direction perpendicular to an ACF surface, the insulating layer on the surface is cracked to expose the conductive ball inside, thus realizing the directional conductive connection in the direction perpendicular to the ACE surface.